PROBLEM 9-9

Presented below is information related to Sage Inc.

Problem 9-9 Presented below is information related to Sage Inc. Cost Retail Inventory, 12/31/17 $251,300 962,468 58,800 18,000 $387,300 1,455,600 78,800 Purchase returns Gross sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight-in Employee discounts granted Loss from breakage (normal) 1,421,800 98,300 117,600 40,500 45,700 20,200 41,400 7,900 4,500 Assuming that Sage Inc. uses the conventional retail inventory method, compute the cost of its ending inventory at December 31 2018. (Round ratios for computational purposes to O decimal places, e g 78% and final answer to 0 decimal places, e.g. 28,987.) Ending inventory using the conventional retail inventory method